Ryan Nash, an analyst from Goldman Sachs, maintained the Buy rating on Synchrony Financial (SYF – Research Report). The associated price target was lowered to $63.00.
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Ryan Nash has given his Buy rating due to a combination of factors including Synchrony Financial’s performance metrics for April. The company’s delinquencies were slightly above seasonal expectations but remained stable, while net charge-offs outperformed historical trends, indicating strong credit management. Loan growth was consistent with expectations, showing stability in the company’s lending portfolio.
Furthermore, the decline in delinquencies on a year-over-year basis and the better-than-expected performance of net charge-offs suggest a positive trajectory for the company’s financial health. These factors combined with the overall solid update on the company’s metrics led Ryan Nash to rate Synchrony Financial with a Buy recommendation.
In another report released on May 16, KBW also maintained a Buy rating on the stock with a $82.00 price target.